Rent is rent.The option contract provides the holder of the contract the right to purchase the property at either a predefined strike price, or at a strike price determined using a methodology explicitly spelled out in the option agreement, for a defined time (or within a defined window) after the contract is signed, but before it expires. 

We make it very clear to tenants that if they suspect a leak, turn off the appliance, leave the building, leave a door/window open and call the Natural Gas company and notify us.

HOA didn't budget for new windows/roof/ect?

I have received estimates as high as $6500 just to replace the 5 windows on the front just because of the oval shape of the windows.

Windows - Do buyers actually look at window brands?

I did have one tenant that was getting behind on his rent and eventually I had to evict him, looking back on that situation I would have done it exactly as it was spelled out in the lease rather than letting him slide for a month to try to get caught up on the rent.. 

Ask your friendly title company to create a HUD-1 for youWith the offer attach pictures of all the ugly things about the property; the landscaping, broken windows, bad walk ways, bad fencing, green water in the pool, any nasty pictures of the interior, the estimate amount of renovations neededWrite a cover letter stating what you will do if they accept your offer; secure the property, insure the house, pay all cash, take care immediately of the roof problem, protect and secure the house form squatters, have the electric turned on, notify the water department, notify the local police to keep an eye out for vandals...etc.Since no one at the bank can make a decision as fast as you want, put a drop dead date in your offer.

I have a 68 window replacement job there still on-going for the Dept of Agriculture.

All the properties have new tile, bathrooms, kitchens, SS appliances, granite, redone floors, new paint inside and out, windows, new water heaters and HVAC systems in each unit.  

Your window to recover your investment is right now.